hamburger
×
Digit General Insurance Logo
Powered By Digit
mobile-img

Check Credit Score for FREE

Instant in 2 Mins. No Impact on Credit Score

desktop-img

What is Demand Deposit Account & How to Open Online/Offline?

What Does a Demand Deposit Mean?

What are the Types of Demand Deposits?

What are the Features of Demand Deposits?

What are the Benefits of Demand Deposits?

What are the Eligibility Criteria for a Demand Deposit?

The eligibility prerequisites for a demand deposit for an Indian customer are as follows:

Criteria

Details

Age

Adults above 18 years and individuals below 18 years can open demand deposit accounts with the assistance of a guardian.

Prerequisites

Submission of documents like utility bills, Aadhaar cards, passports, or bank statements for address verification.

Initial Deposit

Varies among Banks, zero balance accounts or minimum deposit requirements.

Nationality

Some banks require proof of Indian residency.

What are the Documents Required for a Demand Deposit?

How to Open a Demand Draft?

FAQs about Demand Deposit Account